Far Resources (CSE:FAT) announced results from its 2018 winter drill program at its Zoro Lithium Project

The Zoro Lithium Project is located near the historic mining community of Snow Lake in mining friendly Manitoba. The 16-drill hole program totaling 2,472 metres, targeted the spodumene-bearing pegmatites on the property, reported the highest grade intercept to date.

The high-grade nature of Dyke 1 was further confirmed in hole FAR18-20 which intersected nearly 16 metres of 1.8% Li2O, representing the highest-grade intercept over significant widths drilled to date on Dyke 1.

These results are interpreted to be comparable to those for Dyke 1 and signify the potential for a second major lithium resource on the property.

Additional drilling of Dyke 8 is being planned to expand this new discovery in three dimensions.

Far is updating its internal NI 43-101 Technical Report to include results from its 2018 winter drill program, which will include its first non-historic lithium resource.

The company has recently acquired an option on the Hidden Lake Property in NWT where seven samples were collected from surface trenches contained between 1.37 % and 3.01 % Li2O.

The company is currently assessing its exploration strategy for this new acquisition.

Toby Mayo, Interim CEO, stated: “We are clearly very excited by these results, which show not only the consistency of high-grade mineralisation at depth at Dyke 1, but also the potential for adding significantly to the Company’s future resource base through our ongoing, multi-faceted exploration approach. Furthermore, the recently completed aeromagnetics survey, combined with a planned expansion to the highly successful MMI (Mobile Metal Ions) programme, give us great confidence in adding more high-grade lithium at Zoro. Meanwhile, we are eager to commence drilling at Hidden Lake in NWT, where we expect to achieve similar results in the next month.”

In the United States, the company owns the Winston project in New Mexico, another historic mining property with potential for silver and gold.